MARKET DEVELOPMENT
VEGOILS-Market Factors to Watch August 23
VEGOILS-Market Factors to Watch August 23
23/08/2017 (Reuters) - The following factors are likely to influence Malaysian palm oil futures and other vegetable oil markets.
FUNDAMENTALS
* Malaysian palm oil futures extended gains on Tuesday evening to five-month highs on concerns about production, and tracking advances in related edible oils. POI/
* U.S. wheat futures 0#W: sank to contract lows on Tuesday, weighed down by abundant global supplies and technical selling as prices extended a fall that started in early July. GRA/
* Oil inched up on Tuesday, lifted by expectations of another crude stockpile drawdown in the United States but price gains were limited amid the reopening of Libya's largest oil field. O/R
MARKET NEWS
* Asian stocks edged higher on Wednesday to extend a global rally spurred by gains for tech shares on Wall Street and miners in Europe, while the dollar was buoyant against the euro and yen ahead of a meeting of central bankers later in the week. MKTS/GLOB
RELATED
> Argentine biodiesel industry says U.S. duties will halt exports
> U.S. finds Argentine, Indonesian biodiesel subsidized -U.S. industry group
> U.S. wheat futures sag as Russian harvest estimate rises
> Germany's wheat crop seen reduced by rain - farm lobby
> Cargo surveyor ITS releases Malaysia's Aug 1-31 palm oil export data on August 31.
> Cargo surveyor SGS releases Malaysia's Aug 1-31 palm oil export data on August 31.
Palm, soy and crude oil prices at 0055 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP7 0 +0.00 0 0 0
MY PALM OIL OCT7 0 +0.00 0 0 0
MY PALM OIL NOV7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN8 5516 +8.00 5516 5564 275742
CHINA SOYOIL JAN8 6336 -2.00 6332 6390 177192
CBOT SOY OIL DEC7 35.29 +1.20 35.11 35.37 20901
INDIA PALM OIL AUG7 516.00 +1.20 515.00 521 1609
INDIA SOYOIL SEP7 660.35 +1.25 655.2 664.4 38750
NYMEX CRUDE OCT7 47.66 -0.17 47.62 47.74 7041
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel
FUNDAMENTALS
* Malaysian palm oil futures extended gains on Tuesday evening to five-month highs on concerns about production, and tracking advances in related edible oils. POI/
* U.S. wheat futures 0#W: sank to contract lows on Tuesday, weighed down by abundant global supplies and technical selling as prices extended a fall that started in early July. GRA/
* Oil inched up on Tuesday, lifted by expectations of another crude stockpile drawdown in the United States but price gains were limited amid the reopening of Libya's largest oil field. O/R
MARKET NEWS
* Asian stocks edged higher on Wednesday to extend a global rally spurred by gains for tech shares on Wall Street and miners in Europe, while the dollar was buoyant against the euro and yen ahead of a meeting of central bankers later in the week. MKTS/GLOB
RELATED
> Argentine biodiesel industry says U.S. duties will halt exports
> U.S. finds Argentine, Indonesian biodiesel subsidized -U.S. industry group
> U.S. wheat futures sag as Russian harvest estimate rises
> Germany's wheat crop seen reduced by rain - farm lobby
> Cargo surveyor ITS releases Malaysia's Aug 1-31 palm oil export data on August 31.
> Cargo surveyor SGS releases Malaysia's Aug 1-31 palm oil export data on August 31.
Palm, soy and crude oil prices at 0055 GMT
Contract Month Last Change Low High Volume
MY PALM OIL SEP7 0 +0.00 0 0 0
MY PALM OIL OCT7 0 +0.00 0 0 0
MY PALM OIL NOV7 0 +0.00 0 0 0
CHINA PALM OLEIN JAN8 5516 +8.00 5516 5564 275742
CHINA SOYOIL JAN8 6336 -2.00 6332 6390 177192
CBOT SOY OIL DEC7 35.29 +1.20 35.11 35.37 20901
INDIA PALM OIL AUG7 516.00 +1.20 515.00 521 1609
INDIA SOYOIL SEP7 660.35 +1.25 655.2 664.4 38750
NYMEX CRUDE OCT7 47.66 -0.17 47.62 47.74 7041
Palm oil prices in Malaysian ringgit per tonne
CBOT soy oil in U.S. cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in U.S. dollars per barrel